Cairo-Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday treasury bills worth EGP 11.5 billion, in coordination with the Ministry of Finance (MoF), to support the country's budget deficit.

The treasury bills will be issued through two tranches, 91-day bills at EGP 6 billion and 273-day bills worth EGP 5.5 billion, according to the central bank’s website.

Total budget deficit for the fiscal year 2016-2017 is estimated by the Egyptian finance ministry at EGP 319.46 billion.

The MoF plans to issue treasury bills and treasury bonds worth EGP 299 billion in the third quarter of FY2016-2017.